- Proceeding over German subsidiary lifted by court as of May 1, 2017
- Restructuring enables more efficient and competitive setup of German entity
- Big step in focusing the whole group on its core industrial business, grow service and develop a customer centric structure
May 2, 2017, Luxembourg / Zwanenburg, The Netherlands. 3W Power S.A. (ISIN LU1072910919, 3W9K), the holding of AEG Power Solutions Group, announced today that the self-administration proceeding over its German subsidiary AEG Power Solutions GmbH is concluded and the proceeding has been repealed by the local court of Arnsberg, Germany, as of May 1, 2017.
Jeffrey Casper, CEO of 3W Power S.A., said: “Thanks to the contributions of our stakeholders and the hard work of our teams, our German subsidiary is set up in a more efficient, customer-centric and group-integrated structure with a focus on our core industrial business. The measures taken will enable the German subsidiary to operate efficiently in the future, in a better integrated, more cooperative structure.”
This process was part of a broader reorganization of AEG Power Solutions group as a global company. The goal of the reorganization is to focus the group on its core industrial business, grow service and develop a customer centric culture and processes which are essential to achieve sustainable profitability
Details of the restructuring will be published in the company annual report 2016, scheduled to be released on May 18, 2017.
-- End of the Press Release --
About 3W Power:
3W Power S.A. (WKN A114Z9 / ISIN LU1072910919), based in Luxembourg, is the holding company of AEG Power Solutions Group. The Group is headquartered in Zwanenburg in the Netherlands. The shares of 3W Power are admitted to trading on Frankfurt Stock Exchange (ticker symbol: 3W9K).
AEG Power Solutions is a leading provider of UPS systems and power electronic solutions for industrial, commercial, renewable and distributed energy markets throughout the world with main sites in France, Spain, Germany, Singapore and China, with further direct 14 sales and service offices worldwide.
For more information, visit www.aegps.com
Tobias Eberle / Thomas Katzensteiner
Charles Barker Corporate Communications GmbH
Phone: +49 69 79 40 90 24 / +49 69 79 40 90 25
Email: Tobias.Eberle@charlesbarker.de / Thomas.Katzensteiner@charlesbarker.de